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22 June 2021

Will Bitcoin Mining Backed Volcano Bonds Be Enough To Ward Off The IMF?

Will Bitcoin Mining Backed Volcano Bonds Be Enough To Ward Off The IMF?


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Will Bitcoin Mining Backed Volcano Bonds Be Enough To Ward Off The IMF?

El Salvador passed a bill making Bitcoin legal tender this week, putting it on equal footing with the country’s official national currency, the U.S dollar.

President Nayib Bukele spoke about the economic benefits of Bitcoin, particularly in helping Salvadorans living abroad to send remittances back home.

But presumably, as the name suggests, it would be backed by revenues generated from volcano-powered mining grids

President Bukele said he spoke with the country’s geothermal electricity company yesterday to action volcano-powered Bitcoin mining.

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